She’s currently not paying rent, and while she has some health issues and no stable income, she’s been communicative and open to general talks, with a possible option to vacate through a cash-for-keys arrangement, though this might take around six weeks and some hard work.I plan to rehab the property and eventually rent it out, potentially to a Section 8 tenant.

It’ll save you headaches later if she tries to escalate things.Document Everything: Take pictures, write down the history of your interactions etcOffer a Transition Plan: Just like my client, I’d recomend offering her a temporary storage option nearby, or even a small rent discount, to show you’re not trying to kick her out - just keeping the property safe and up to code.

As others have suggested, you could get a conventional or FHA loan if you want lower down payment options.

So many better options. 

Okay, I think co-signing could potentially be an option in the future.

Looks like you have some good options in front of you @Martin Phinney.

HELOCs or traditional financing may also be better options to preserve retirement funds while minimizing immediate tax liabilities.This post does not create a CPA-Client relationship.

That's how I would propose it as an option next time.

Are you looking for "value add" options or turn-key?

Happy to chat...being a local GC takes out a lot of the risk of the biggest variable for most investors (unpredictable rehab costs) and also allows you to consider more options than the average investor, with your rehab costs being significantly lower.